Fortive Corporation (NYSE:FTV) Stock Has Consensus Price Target of $62.36 According to Brokerages

Shares of Fortive Corporation (NYSE:FTV) have earned an average rating of “Hold” from the thirteen research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $62.36.

A number of analysts have issued reports on FTV shares. Evercore assumed coverage on shares of Fortive in a research note on Monday, September 28th. They set a “hold” rating and a $60.00 price target on the stock. Weiss Ratings lowered shares of Fortive from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. Truist Financial dropped their price objective on shares of Fortive from $68.00 to $63.00 and set a “hold” rating for the company in a report on Monday. Finally, Argus reaffirmed a “buy” rating and set a $68.00 target price on shares of Fortive in a research note on Wednesday, August 19th.

Insider Activity at Fortive

In other news, SVP Peter C. Underwood sold 8,662 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $61.59, for a total transaction of $533,492.58. Following the sale, the senior vice president owned 79,118 shares of the company’s stock, valued at approximately $4,872,877.62. This represents a 9.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in Fortive by 20.2% during the 3rd quarter. GAMMA Investing LLC now owns 4,728 shares of the technology company’s stock worth $259,000 after purchasing an additional 793 shares in the last quarter. North Point Portfolio Managers Corp OH acquired a new stake in Fortive in the 3rd quarter valued at about $44,000. QRG Capital Management Inc. raised its position in Fortive by 13.8% in the 2nd quarter. QRG Capital Management Inc. now owns 17,973 shares of the technology company’s stock valued at $1,098,000 after purchasing an additional 2,175 shares in the last quarter. Security National Bank of Sioux City Iowa IA raised its position in Fortive by 28.0% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 13,954 shares of the technology company’s stock valued at $852,000 after purchasing an additional 3,052 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its stake in shares of Fortive by 156.5% in the 2nd quarter. Anchor Investment Management LLC now owns 690 shares of the technology company’s stock valued at $42,000 after buying an additional 421 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Down 0.1%

Shares of NYSE FTV opened at $56.47 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $57.97 and its two-hundred day moving average is $59.27. Fortive has a 52-week low of $47.71 and a 52-week high of $64.56. The firm has a market cap of $17.05 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.34 and a beta of 1.07.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Research analysts predict that Fortive will post 3.02 EPS for the current year.

Fortive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. This is a positive change from Fortive’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, September 4th. Fortive’s payout ratio is presently 16.57%.

About Fortive

Fortive Corporation (NYSE:FTV) is a diversified industrial technology company that develops and provides connected products, software, and services for customers in healthcare, manufacturing, infrastructure, and other regulated or asset-intensive industries. Its offerings are designed to improve productivity, operating efficiency, safety, compliance, and the reliability of critical equipment and processes.

The company’s businesses have included electronic test and measurement instruments, calibration and asset-management solutions, workplace and public-safety products, industrial software, and healthcare technologies.